This is the most complicated piece because you are essentially the mortgage originator (which might run into licensing concerns depending on how many times you do this and your state), and you need to make sure the person who is buying is a good borrower.3) close with a title company or lawyer (state dependent) who knows how to deal with this type of transaction4) set up an account with a servicer to collect the money from the borrower (not required, but highly recommended from note buyers)5) collect payments

Quote from @Johny Omaga: As a private lender, establishing clear communication and transparency with borrowers has been crucial in overcoming any funding challenges.

Hi Adriana, Typically, yes, the interest rate does spike, but depending on the borrower's experience and the loan size, you can still get loans at 80% LTV and rates in the 5.75 - 7.50%

If your job doesn't pay a lot and all of that goes to rent, gas and groceries, it might not be possible.How much you will be qualified to borrow depends on how much you earn, so if your job pays less, you will be able to borrow less. 

Borrowers will be provided an upfront disclosure detailing this information.Contractor(s) Acceptance: Ø does not “approve” contractors or refer contractors.

From years of borrowing I can also say these are the lenders who will take the time to understand obstacles that may arise on any given project and formulate solutions that keep your projects moving.

Get an authorization to speak to the lenders from the borrower and contact the lenders.  

Most of my borrowers tell me that their biggest challenge is locating the deals that make sense on numbers/profits.

However, houses are frequently, almost routinely, removed from the sale process when the borrower makes a catch up payment or two or when the bank perceives some risk to a sale meaning that the property may leave a deficiency.

In the meantime the borrower will just rip the rents if Any..